An expert explains the right way to be emotional about investmentsClients should acknowledge that some of their financial decisions may be driven by nonfinancial reasons, according to this article from Money. Those reasons could include patriotism, as an example, which may lead to an avoidance of foreign stocks; or social responsibility, which could keep them from investing in companies associated with tobacco, nuclear energy and weapons, according to this article. These emotion-driven decisions may result in portfolios that the retirees find palatable, but they are also likely to result in lower returns. Instead, retirees may wish to consider striking a balance between rational investment decisions and emotional choices that they feel strongly about.

Bloomberg News

It's time for a new American retirement dreamYounger Americans who are part of the millennial and Gen X age groups, as well as baby boomers, now need to redefine what the American retirement dream is on a more personal level due to shifting economic and demographics realities, according to this article from CBS Moneywatch. One way to possibly boost financial resources during their working years is to be resilient and creative so that their investment options will allow them to sustain their retirement goals and lifestyles they are accustomed to.

Debunking the top retire-mythsInvestors need to let go of some common misconceptions related to a life of retirement, such as the notion that the transition to retirement will be easy, or that they will spend less, or that they should plan for a retirement age of 65, according to this article on Kiplinger. In truth, retirees are likely to find that they may require a serious shift in mindset relating to their new lifestyle, and planning for retirement earlier will allow them to handle unexpected events that could change their target retirement age.

This emotional issue hurts Americans’ ability to investA retirement survey from Wells Fargo and Gallup found that nearly one-third Americans financially support someone. Roughly 24% of investors are providing financial assistance to an adult child, which isn’t surprising given that 24 million Americans between the ages of 18 and 34 are living with their parents. Another 6% are providing financial assistance to a parent and 2% are helping both parents and children. All of his can negatively affect efforts to save for retirement.

A one-stop guide to retirement planningClients planning for retirement are advised to carefully plan their savings around their situation, take into consideration when they plan to retire and how much Social Security and pension benefits they expect to receive, and to use a retirement calculator, according to this article in Forbes. It is also highly recommended to max out the amount their employer is willing to match and to open a health savings account and contribute to it diligently if they are eligible. IRAs are also a recommended investment option as it provides greater flexibility in investing and withdrawing assets while a Roth IRA investment allows clients to withdraw without fear of tax or penalty.